The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-15
THE COFFEE MARKET.
Brokers in Better Trim and Confide
That the Panic is over.

Brokers in Better Trim and Confident
That the Panic is over.
NEW YoRK, June I4.-The feeling in the
street among the coffee brokers is stronger
this morning. Gables from Havre and Rio
note the increase of prices, standing at
Havre at &c. above New York quotations
and sc. above at Ric. A private Havre
cable dated to-day at 1880 a. m. gives an
advance of two francs or about forty points
in the New York market All this tends to
strengthen the feeling ON Change. The
talk of the street is the grand stand of the
"0ld War Horse" Mr. J. j. O'Donohue, in
staying the tide yesterday, which would
have otherwise carried widespread disaster.
Mr.. O'Donohue feels confident. He believes
that the scenes Of yesterday will not be re-
peated
ALL PREPARED TO-DAY.
Said he: "At least one big house was
very closely pushed yesterday and two
others had narrow escape, but they are all
right to-day The big one has now $500 900
in the bank to its credit, and will meet all
its demands. stand behind them and there
is no danger. All feel that the market is
now in stronger hands, and buyers are be-
ginning to think the bottom has been
reached and are sending in their orders |
have filled orders for 1900 bags this morn
ing III the regular order of business.
STREET GOSSIP.
The Rio SPECTATORS who bolstered up this
boom are considered shaky lot. They
have q way of dropping on a falling mar
ket Spectators and brokers from Balti-
more and Philadelphia are flocking into the
street to-day and general feeling of sup
pressed excitement rules The brokers are
gathered together on the streets discussing
the situation this morning.
A FEvERISH BUT FAIR MARKET.
At the first call at the Coffee Exchange
this morning an excited crowd of brokers
gathered about the board The heavy bears
of yesterday did not noticeably appear to
the front. The market was feverish and
uncertain. The sales recorded at the first
call, however, show an advance ON an aver
age of 1c. or 100 points. The fluctuations
were great and a wide range of prices APP
peared for the same months delivery.
Gables from Havre, showing raise of so
points, steadied the market and infused new
life into the crowds. Later cable from
Rotterdam saying that the sellers there were
reluctant to sell was received with cheers
and cries of 'Good enough!n The local
sales on the first call were 1000 bags.
LOOKING AFTFR SETTLEMENTS.
A great deal of excitement was mani
Tested among the brokers and SPECTATORS as
to the prospects of the settlement of Arnold
az Co. and Mackay a. Small the two firms
which went under yesterday. Mr.. B. G. Ar
mold said that his firm was not prepared to
make statement for some days. So far
they had not heard from any of their Gus
toners. Mr.. Small, OF the flrnfof Mackay
q Small, said they were also unable to fur
nish any statement. "The crisis is over"
Mr. Small said, "and to-day | think we
shall be able to pay dollar for dollar. Our
customers will not suffer" The estreet is full
of rumors of the trouble among the banks at
Chicago and Cincinnati, but kilograms from
these citias deny them